After months of speculation, Lindsay Lohan has been officially signed by Lifetime to play Elizabeth Taylor in their upcoming biopic Liz & Dick, which will chronicle the late icon's turbulent romance with Richard Burton!

She says in a statement:

“I have always admired and had enormous respect for Elizabeth Taylor. She was not only an incredible actress but an amazing woman as well. I am very honored to have been asked to play this role.”

Wow! Guess her war with the Standard Hotel couldn't stand in her way this time!

But in all seriousness, this could be a very big opportunity for her to prove to the industry that she's serious about getting her life and career back together!

Los Angeles, CA (April 23, 2012) – Lindsay Lohan is set to star as the legendary Elizabeth Taylor in the Lifetime Original Movie Liz & Dick, based on the true story of the screen icon’s historic romance with actor Richard Burton. Principal photography on the movie will begin in early June in Los Angeles, it was announced today by Rob Sharenow, Executive Vice President, Programming, of Lifetime Networks.

For nearly a quarter of a century, Taylor and Burton were Hollywood royalty and their fiery romance — often called “the marriage of the century” — was the most notorious, publicized and celebrated love affair of its day. Swarmed by paparazzi, Taylor and Burton’s love affair was played out entirely in front of the global press from the time they met on the set of the major motion picture Cleopatra, left their respective spouses, married and divorced, only to remarry and divorce once again. Despite their roller coaster romance for the public eye to see, Taylor and Burton shared an undeniable love greater than most people could have ever dreamed.

Regarding the announcement, Lohan said, “I have always admired and had enormous respect for Elizabeth Taylor. She was not only an incredible actress but an amazing woman as well. I am very honored to have been asked to play this role.”

“We are thrilled Lindsay will portray beloved Hollywood legend Elizabeth Taylor,” added Sharenow. “She is one of the rare actresses who possesses the talent, beauty and intrigue to capture the spirit of such a provocative icon.”

Lilly Collins would have been a better choice. I think Lohan has fried too many brain cells to ever be a good actress again. And the thought of seeing Liz Taylor with artificially inflated lips is repugnant.

Young Hollywood is so entitled. "Oh I'm just like a modern day Elizabeth Taylor" uhhhmm, no you aren't Lindsay Lohan. Elizabeth was the boldest, bravest, most fantastical star of her generation. Being fucked up didn't constitute that.

This is the worst casting EVER! R we being PUNKED right now!? Shouldn't the actress playing Liz be beautiful and look like her??? Liz Taylor deserves better than this….poor thing is probably rolling over in her grave.

It's a damn Lifetime movie & the "social media" is treating it like a big screen movie for God's sake. I repeat, it's a damn Lifetime movie !!!!! Lifetime - a third, no, fourth rate cable network. Now filming in June instead of May, btw? What, to give her lips & cheeks time to de-flat? She looks nothing like Elizabeth Taylor. If anyone tunes in to watch this movie they'll change channels within minutes of Lohan's first few lines - anyone I spoke to that watched SNL did so just to see how pathetic she was - and they weren't disappointed. Wondering if there is a clause in the contract she just signed that says she's fired for any "misdeeds" - like the one hanging over her head? She'll end up being replaced, just like the Linda Lovelace movie.

This is sickening. Elizabeth Taylor looked younger than Lindsay does, when she died. All this does is make the people at Lifetime look like complete morons. On the list of people who should play Elizabeth Taylor, Lindsay should be last. Lifetime is in trouble as it is, no one is going to watch this. They may tune in for a couple seconds to see the train wreck, but I seriously doubt they're going to sit through the entire thing. There's a rumor going around that they also signed someone else as a backup, which shows that even they don't believe Lindsay can pull it off. It should also be noted that it's now filming in LA instead of Canada…looks like Lindsay couldn't get in, after all.

“She is one of the rare actresses who possesses the talent, beauty and intrigue to capture the spirit of such a provocative icon.” LMFAO . . .Lindsay does not have talent, she certainly is not pretty unless you go for the old druggie alcoholic duck lip look and she isnt intriguing unless you like watching live court. What a joke! This movie is doomed to fail. Who the hell would sit through 2 hours of Lindsay?

It made me sick when Lohan started hanging around with that Hilton parasite and and that crowd because out of all them, she was the one with potential. That said, if Lyndsey has any sense left whatsoever, she would turn this down and not just take it for the paycheck. Come on Lyndsey! Get your shit together before taking on one of Hollywood's biggest legends.

Re: CatAttack – Don't make out Liz Taylor to be a saint. She was a great actress and a wonderful humanitarian but she was also caught once giving head to some guy in the balcony of Studio 54 while high on coke… that's a fact.

This is an extreme dishonor to Elizabeth Taylor. She was such an amazing actress and person and I don't think anyone will be able to take Lindsay Lohan seriously as an actress after all of the mistakes she's made in the past ten years. Lindsay had her time to shine and she fucked it up, time to move on with her life and find a different industry where she is less seen and heard.

Something is fishy here. Is she doing this for free just to dip her toe in the acting world again to see if paying gigs will bite? What is Lifetime any way? Is it a You tube thing or what? Never heard of it. Most people can't get hired to be a nurses aid or work in the mall with a criminal record, this just seems strange.

Re: windbourne – Surely you have heard of Lifetime. It is a network geared towards women and 90 percent of their movies use to be about rape and would have the most horrible titles such as "She Cried No" and "The Stranger Next Door".

Re: Lilygirl27 – In reality she's young, but unfortunately the drus have aged her about 10-15 years.

Re: Marcus – Pretty is one thing…no one has ever described young Liz Taylor as merely pretty. She's was stunningly gorgeous! The Jetta I drive is a cute car, but I would never get it twisted and think it looks as hot as a BMW.